OIH is the oil services ETF. Oil plays have been breaking out in a big way as the sector takes over a leadership role. But these stocks are still way below their 52 week highs, unlike most of the market. As oil ramps higher, we will have to start investing in oil production or risk a scary squeeze in oil. OIH holdings are the beneficiaries of this worry.
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For this Iron condor with 5$ spread for each side there is a max profit of 100$ and a max loss 400$: if you are new in Iron condor you should find this R/R ratio very poor compared with forex, but we have very high odds at our side! 93% to get the maxim profit, plus 5$...
3 Fibonacci price relationships in the 109-107.2 area
.618 extension red dot swing low
1.0 extension of blue dot swing low
.618 retracement of move from March low
VWAP from March low has acted as support throughout the move higher
This downward valuation of e&p oil stocks, vs actual oil, has reached stupendous levels. Something has got to give. What and when will a catalyst appear to correct this?
